Cathie Wood's Ark Invest Is Selling Tesla Stock and Buying 2 Remarkable Fintech Growth Stocks

Cathie Wood is the founder and CEO of Ark Invest, an asset management firm that invests in innovative companies and disruptive technologies. The firm offers several exchange-traded funds to clients, including its flagship Ark Innovation ETF, which has returned 39% year to date. But the Ark Fintech Innovation ETF is up 49% this year, and the firm is leaning into those gains.

Throughout August, Ark trimmed its holdings in Tesla -- though it remains the portfolio's largest position -- and redeployed capital across several fintech companies, including Block (NYSE: SQ) and Adyen (OTC: ADYE.Y). In terms of asset allocation, Block currently ranks no. 6 and Adyen ranks no. 51 out of 125 total holdings.

Here's what investors should know about these two growth stocks.

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Source Fool.com